Arhag Annual Report 2019/2020

23. INTEREST-BEARING LOANS AND BORROWINGS This note provides information about the contractual terms of the Association’s interest-bearing loans and borrowings, which are measured at amortised cost. All loans and borrowings are measured at amortised cost. Bank loans are secured by way of a first fixed charge over housing properties and include an asset cover test based on the ratio of the value of properties secured to the carrying value of the loan. Secured bank loans include interest cover and gearing covenants each of which is tested annually against relevant disclosures within the Comprehensive Income and Financial Position of the Financial Statements. 2020 (£’000) 2019 (£’000) Creditors falling duemore than one year Secured bank loans 29,444 30,747 Creditors falling due within less than one year Secured bank loans 1,325 1,398 As at 31 March 2020 30,769 32,145 24. ANALYSIS OF CHANGES INNET DEBT 1 April 2019 (£’000) Cash flows (£’000) Non cash movement (£’000) 31 March 2020 (£’000) Cash and cash equivalents 3,723 (660) - 3,063 Debt due within one year (1,398) 1,387 (1,314) (1,325) Debt due after more than one year (30,747) (298) 1,314 (29,731) (28,422) 429 - (27,993) 1 April 2018 (£’000) Cash flows (£’000) Non cash movement (£’000) 31 March 2019 (£’000) Cash and cash equivalents 2,142 1,581 - 3,723 Debt due within one year (1,053) (1,075) 730 (1,398) Debt due after more than one year (24,189) (5,828) (730) (30,747) (23,100) (5,322) - (28,422) 56 Arhag